News
Rivian’s RJ Scaringe talks on-site farming plans for employees, battery storage solutions
Rivian CEO RJ Scaringe recently shared insights about the company’s psychology in a livestreamed conversation with professional rock climber Alex Honnold and Rich Roll, a long-time wellness advocate and endurance athlete. As Rivian develops the manufacturing capabilities necessary to build its all-electric R1T pickup truck and R1S SUV at market scale, serious consideration is going into how to harness their team’s energy into an industrial system that works for everyone involved.
“So, industrial systems you have very often are very much class-based system – the white collar workforce, the blue collar workforce – there’s a whole host of things that lead those two sides to often having friction. We see how unions have come in to sort of help try to make those two work a little bit better together. But, a big part of what we’re doing right now is actually mapping out and thinking about the psychology of our company and the psychology of this facility,” Scaringe detailed during the event.
One of the unique things Rivian has inherited during its growth into a full-fledged auto manufacturer is the work force from the 2.6 million square foot plant the company purchased from Mitsubishi. Scaringe described the human story of the facility as “remarkable”, citing how many of the people currently there were part of the original launch team that later had to shut the facility down.
“So, 1989-1990, there are people that are 21-22 years old, they launched the facility….25-30 years go by, they’re part of the team running it, building it, now have to shut this facility down,” Scaringe described. “When we bought the facility, we not only just got the hardware, the acreages of land…[Now] we’ve got a team of people that’s passionate about restarting the facility.”
The company hopes the motivation to restart the plant under a Rivian badge will carry over into a win-win for all involved.
“It’s really remarkable. I mean, I think we’ve got a gift to work with in terms of that level of energy and that passion to bring it back to life,” the CEO said. “As we think about how do we take this gift that we’ve been given in terms of a workforce that’s so motivated, and how do we challenge a lot of the conventions that have been built up in terms of industrial systems…we’re doing a lot of things in the facility to really take that energy and supercharge it, really harvest it.”
One of the ideas Rivian is working to benefit on-site employees utilizes the resources inherited from the plant itself. The acreage surrounding the actual facility isn’t entirely needed for production purposes, so the car maker is planning to partner with local universities for food production from ground to plate.
“We have 508 acres at the plant, a very small percent of which actually has the plant occupying it – most of it’s just grass. We’re gonna be turning a lot of that into an area to grow food. And we’re gonna run that in partnership with some of the local universities through their agriculture programs to grow food locally on our site…and then that food’s gonna be served in our facility with students that are learning from top chefs we’re bringing in to run the food services in our facility, and we’re gonna provide incredible food to our plant team regardless of what part of the plant you work in,” Scaringe revealed.
“[That way]…there’s true equity. Every employee is part of this mission of bringing this facility back up. And that positive energy that we’re establishing at the plant, we want it to be a benchmark for how industrial systems are run – the collaboration, the communication between groups, between our other facilities.”
The conversation with Rich Roll and Alex Honnold primarily involved another part of the company’s psychology – helping to accelerate widespread adoption of renewable energy. Rivian has partnered with the Honnold Foundation to use the electric truck maker’s “second-life” auto batteries for a micro-grid solar system in Adjuntas, Puerto Rico. Through this project and others in the future, older battery cells that are no longer efficient for electric vehicles are repurposed into stationary energy storage units.
Adjuntas was selected as their first project site due to the town’s need for energy assistance after struggling in the wake of Hurricane Maria in 2017. The Honnold Foundation and Rivian will be using 135 kWh battery packs from R1T and R1S development vehicles for that particular grid project; however, cells going into Rivian’s production vehicles have been purposefully designed to have a “second life” in energy storage. The move towards energy projects marks a huge step for Rivian, signaling its expansion beyond the manufacture of all-electric luxury adventure vehicles.
Rivian’s first vehicle deliveries to customers are still planned for the end of 2020. Scaringe said during the event that around 800 members of their preorder community, i.e., reservation holders, were in attendance at the event with Roll and Honnold, so a further manufacturing update was provided with that in mind.
“There’s a lot of stuff happening [at the plant]. We’re moving equipment, we’re putting new equipment in. We’ve got amazingly talented people working day and night to bring that facility up and start delivering cars as quickly as possible,” he promised.
Watch RJ Scaringe, Alex Honnold, and Rich Roll discuss the Honnold Foundation and Rivian’s facility details in the video below:
Elon Musk
Tesla Earnings: financial expectations and what we should to hear about
In terms of discussions, Tesla earnings calls are usually a great time to get some clarification on the company’s outlook for its current and future projects.
Tesla (NASDAQ: TSLA) will report its earnings for the first quarter of 2026 this evening after the market closes, and analysts have already put out their expectations from a financial standpoint for the company’s first three months of the year.
Additionally, there will be plenty of things that will be discussed, including the recent expansion of the Robotaxi program, the Roadster unveiling, and Full Self-Driving (Supervised) approvals across the globe.
Financial Expectations
Wall Street consensus expectations put Tesla’s Earnings Per Share (EPS) at $0.36, while revenues are expected to come in around $22.35 billion.
This would compare to an EPS of $0.27 and $19.34 billion compared to Tesla’s Q1 2025. Last quarter, EPS came in at $0.50 on $29.4 billion of revenue.
Tesla beat analyst expectations last quarter, but the next trading day, the stock fell nearly 3.5 percent. We never quite can gauge how the market will respond to Tesla’s earnings; we’ve seen shares rise on a miss and fall on a beat.
It really goes on the news, and investor consensus, it seems.
What to Expect
In terms of discussions, Tesla earnings calls are usually a great time to get some clarification on the company’s outlook for its current and future projects. Right now, the big focus of investors is the Robotaxi program, the Roadster unveiling, and what the outlook for Full Self-Driving’s expansion throughout Europe and the rest of the world looks like.
Robotaxi
Tesla just recently expanded its unsupervised Robotaxi program to Dallas and Houston, joining Austin as the first cities in the U.S. to have access to the company’s ride-hailing suite.
Tesla expands Unsupervised Robotaxi service to two new cities
Some saw this move as a quick effort to turn attention away from a delivery miss and an anticipated miss on earnings. However, we’ve seen Tesla be more than deliberate with its expansion of the Robotaxi suite, so it’s hard to believe the company would make this move if it were not truly ready to do so.
The company is also working to expand its U.S. ride-hailing service outside of Texas and California, and recently filed paperwork to build a Robotaxi-exclusive Supercharger stall.
Expansion is planned for Florida, Nevada, and Arizona at some point this year, with more states to follow.
Roadster Unveiling
The Roadster unveiling was slated for April 1, and then pushed back (once again) to “probably late April,” according to Elon Musk.
It does not appear that the Roadster unveiling will happen within that time frame, at least not to our knowledge. Nobody has received media or press invites for a Roadster unveiling, and given the lofty expectations set for the vehicle by Musk and Co., it seems like something they’d want to show off to the public.
The Roadster has become a truly frustrating project for Tesla and its fans; evidently, there is something that is not up to the expectations Musk and others have. Meanwhile, fans are essentially waiting for something that is six years late.
At this point, also given the company’s focus on autonomy, it almost seems more worth it to just cancel it, remove any and all timelines and expectations, and surprise people with something crazy down the line, maybe in two or three years. There should be no talk of it.
Full Self-Driving Global Expansion
We expect Musk and Co. to shed some details on where it stands with other European government bodies, as it recently was able to roll out FSD (Supervised) to customers in the Netherlands.
Spain is also working with Tesla to assess FSD’s viability as a publicly available option for owners.
With that being said, there should be some additional information for investors as they listen to the call; no talk of it would be a pretty big letdown.
Optimus
There will likely be a date set for the Gen 3 Optimus unveiling, and we’re hopeful Tesla can keep that date set in stone and meet it. Not reaching timelines is a relatively minor issue, but a company can only do this for so long before its fans and investors start to lose trust and disregard any talk about dates.
It seems this is happening already.
Optimus has been pegged as Tesla’s big money maker for the future. The goals and expectations are high, but it is a privilege to have that sort of pressure when investors know the company’s capability.
News
Tesla just unlocked sales to 50,000+ government agencies
It marks a significant step in expanding Tesla’s presence in the public sector, where procurement processes have traditionally slowed electric vehicle adoption.
Tesla just unlocked sales to over 50,000 government agencies by entering a new agreement with Sourcewell, a purchasing cooperative.
Tesla entered a new master purchasing agreement with Sourcewell, the largest government purchasing cooperative in the U.S. This will enable streamlined sales of its EVs to more than 50,000 U.S. public entities. Tesla entered Designated Contract 0813525-TES, and the agreement covers Model 3, Model Y, and Cybertruck, and potentially other vehicles the company could release.
It marks a significant step in expanding Tesla’s presence in the public sector, where procurement processes have traditionally slowed electric vehicle adoption.
The deal allows eligible agencies, including cities, school districts, state governments, and higher-education institutions, to purchase Tesla vehicles directly through Sourcewell without conducting their own lengthy competitive bidding or request-for-proposal (RFP) processes.
Pricing is pre-negotiated and capped, providing transparency and predictability. Agencies simply register for a Sourcewell account online or by phone and place orders under the existing contract. This cooperative model aggregates demand across thousands of members, reducing administrative costs and time while ensuring compliance with public procurement rules.
For Tesla, the agreement removes major barriers to government fleet sales. Public-sector procurement cycles often stretch 12 to 18 months due to bidding requirements and committee reviews.
Tesla buyers in the U.S. military can get $1,000 off Cybertruck purchases
By securing the master contract, Tesla gains immediate, simplified access to a massive customer base that previously faced friction in adopting EVs. The company highlighted in its announcement that the partnership will help these 50,000-plus agencies “save thousands of $$$ in operating costs for their vehicle fleet over time” through lower maintenance, energy efficiency, and the elimination of tailpipe emissions.
The initial four-year term runs through November 13, 2029, with options for up to three one-year extensions, offering long-term stability for both parties.
Sourcewell’s role is central to execution. As a cooperative purchasing organization, it negotiates and manages vendor contracts on behalf of its members, then makes them available nationwide. Participating entities contact Tesla’s dedicated fleet team or Sourcewell representatives to complete purchases, bypassing redundant paperwork.
This structure accelerates fleet electrification while maintaining fiscal accountability—agencies receive pre-vetted pricing and terms without reinventing the wheel for each vehicle order.
The partnership positions Tesla to capture a larger share of the public fleet market, where total cost of ownership often favors electric vehicles once procurement hurdles are removed.
For government buyers, it translates to faster deployment of sustainable fleets, reduced long-term expenses, and alignment with environmental mandates. As more agencies transition, the contract could contribute to broader EV infrastructure growth and taxpayer savings across the country.
Elon Musk
How much of SpaceX will Elon Musk own after IPO will surprise you
SpaceX’s IPO filing confirms Musk will maintain his voting power to make key decisions for the company.
Elon Musk will retain dominant voting control of SpaceX after it goes public, according to the company’s IPO prospectus that was filed with the SEC. The filing reveals a dual-class equity structure giving Class B shareholders 10 votes each, concentrating power with Musk and a handful of other insiders, while Class A shares sold to public investors carry one vote.
Musk holds approximately 42% of SpaceX’s equity and controls roughly 79% of its votes through super-voting shares. He will simultaneously serve as CEO, CTO, and chairman of the nine-member board after the listing. Beyond that, the filing includes provisions that may limit shareholders’ influence over board elections and legal actions, forcing disputes into arbitration and restricting where they can be brought.
The case for Musk holding this level of control is grounded in SpaceX’s actual history. The company’s most important bets, from reusable rockets to a global satellite internet constellation, were decisions that ran against conventional aerospace thinking and would likely have faced resistance from a board accountable to investor gains. Fully reusable rockets were considered economically irrational by established industry players for years. Starlink, which now generates over $4 billion in annual operating profit, was widely dismissed as financially unviable when it was proposed. The argument for concentrated founder control seems straightforward, and the decisions that built SpaceX into what it is today required someone willing to ignore consensus and absorb years of losses.
SpaceX files confidentially for IPO that will rewrite the record books
For context, Musk’s position is significantly more dominant than Zuckerberg’s at Meta. The comparison with Tesla is also worth noting. When Tesla did its IPO in 2010, it did not issue dual-class shares. Musk has only recently pushed for enhanced voting protection, proposing at least 25% control at Tesla in 2024 after selling shares to fund his Twitter acquisition left him with around 13%.
SpaceX has clearly learned from that experience and structured the IPO differently by planning to allocate up to 30% of shares to retail investors, roughly three times the typical norm for a large offering. The roadshow is expected to begin the week of June 8, with a Nasdaq listing rumored to be a $1.75 trillion valuation and a $75 billion raise.
Tesla Earnings: financial expectations and what we should to hear about
Why SpaceX just made a $60 billion bet on AI coding ahead of historic IPO
